Swiss Shipper, Like Siemens, Cooperates in U.S. Bribe Probe

Panalpina World Transport Holding Ltd., like Siemens AG and others before it, faced potentially crippling penalties when U.S. prosecutors began investigating the bribes it paid to government officials around the world.

The Swiss freight forwarder could battle the probe and risk an indictment, or clean up its practices and help prosecutors unearth its wrongdoing. Like Siemens, Panalpina chose cooperation. On Nov. 4, the Justice Department rewarded Panalpina, letting it avoid prosecution by paying $81.5 million, admitting “a culture of corruption,” and strengthening compliance programs.